Groupon Wants to Be Costco, Not Amazon, CEO Says

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Groupon Wants to Be Costco, Not Amazon, CEO Says

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Groupon Wants to Be Costco, Not Amazon, CEO Says

Wochit 0:58 mins

When Groupon reported second-quarter earnings earlier this week, its Groupon Goods business accounted for $242 million of the company?s $609 million in sales, or 40 percent of total revenue. But with that growth comes challenges. And new CEO Eric Lefkofsky said in a recent interview that he recognizes that improvements are needed The market rebounded from a three-day losing after some widely followed companies like Tesla and Groupon rose following their quarterly reports. Shares in Eric Lefkofsky's Groupon soared as much as 28%, chalking up their biggest one-day gain after the once-struggling Internet discounts website showed signs its turnaround effort was gaining momentum.

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